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Home ownership is about stable neighborhoods.....
Posted on: March 24, 2018 at 23:12:21 CT
Tigrrrr! MU
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When Obama contributed to the home mortgage house of cards be making it easier to qualify for home loans, it brought into neighborhoods a group of people unable to meet the requirements of home ownership. That included maintenance and upkeep, and as the balloon mortgages matured, even the basic house payment. They bought the house under the impression they could always refi at a better rate down the road and the house would always appreciate.
It wasn't about race. It was about being stupid and gullible and falling for predatory lendors and appraisers willing to let people hock grandma's false teeth to get into a house.
Only when the ballon mortgages kicked in and they sought loans from traditional mortgage companies using reputable appraisers, they found they didn't have the income to qualify and their homes weren't worth what they had paid for them.
It isn't about race, you dumb ass, it's about stable neighborhoods for people who want to contribute to the schools and the communities.
It wasn't about race. It was about being stupid and gullible and falling for predatory lendors and appraisers willing to let people hock grandma's false teeth to get into a house.
Only when the ballon mortgages kicked in and they sought loans from traditional mortgage companies using reputable appraisers, they found they didn't have the income to qualify and their homes weren't worth what they had paid for them.
It isn't about race, you dumb ass, it's about stable neighborhoods for people who want to contribute to the schools and the communities.
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Home ownership is about stable neighborhoods..... - Tigrrrr! MU - 3/24 23:12:21